№ 14 | Quoine - Cryptocurrency Exchanger Review CENTRALIZED
Quoine is the Japanese cryptocurrency exchange.
Which is specialized in trading with Bitcoin (BTC) and Ethereum (ETH).
It enables users to trade BTC and ETH, exchanging them for a large number of national currencies. The cryptocurrency exchange allows to trade different instruments, including futures, algorithmic trading, and even lending, to make a profit on the deposits.
For the Quoine exchange, the security of its assets and the protection of user data are in the first place.
That’s why the security measures are taken already at the stage of registration of a new user. To pass the verification procedure it is necessary to download copies of documents that can verify the identity of the user and the address of his residence. Quoine can instantly process large amounts of transactions, up to one million per second.
The platform doesn’t have commission when user makes deposits in cryptocurrencies of fiat money.
The withdrawal of the cryptocurrency from the account is free of charge. Withdrawing fiat money users have to pay a fixed amount, which is different for every country, for example, for the Japanese yen it is 500 JPY, for the euro — 5 EUR, for the dollar — 5 USD.
Signing up, the new users receive a base pair of BTC with fiat funds. The base pair for each user is determined individually depending on the country of residence. For the Japanese, this is BTC/JPY, for Americans — BTC/USD, for Europeans — BTC/EUR. Trade in the base pair is not charged by the commission. For other pairs with Bitcoin, it is 0.25%. For trading in pairs to the Ethereum, 0.1% commission is charged for all operations, and for Bitcoin Cash — 0.25%.
In March 2017, the administration of the exchange limited the number of withdrawals per day.
Previously, it was possible to make out cache twice a day.
Now the cache is only available once every 24 hours. This caused a number of negative comments about the work of the exchange. Some users suspect that the exchange is going through difficult times, but there is no official information about it. In general, the work of the Quoine cryptocurrency exchange does not cause criticism.
Commission fee is kept at an average level, and the period of withdrawal of fiat money does not exceed 2-3 working days.
The daily trading volume of Quoine is approximately close to $65 millions of dollars. At the time of writing, 50 crypto assets are listed on Quoine.
- Big diversity of trading instruments;
- 2FA authentication;
- No deposit fees;
- Fiat support.
- No leverage available;
- Many negative comments about the work of the exchange.